XRP might sustain its rally with the support of Asia’s FOMO. Asian retail bettors reportedly are expected to make a bold bet on XRP. This can eventually lead to the cryptocurrency price catching up with a broader crypto bull run. This opinion has made it to the news very quickly after the price of XRP crashed after the SEC law suit against Ripple Inc.
The doubt digit gains of XRP is projected as a proof that some of the market participants are not deterred by the action of regulators. It just looks like things are returning to normal for XRP. There were several investors who bought XRP when the price touched the bottom with the hope that the price will rebound soon in response to the Bitcoin trend. Those who are smart did the job of buying the dip and are continuing with their strategic decisions in profit making.
It was obvious that several exchanges with their presence in the US suspended XRP in their platforms; however, XRP pairs are available in several other exchanges.
While this is the state of the market, the curiosity of onlookers has been building up. And, Brad Garlinghouse has been responding to a lot of user queries.
Ripple (XRP) on Right Side of Facts
When asked about why Ripple has been responding slowly to SEC and on why they are silent, Brad Garlinghouse stated that the legal process can be slow. Further stated that things might seem quiet and that there is plenty of things happening behind the scenes. He also stated that they will be filing their initial response within weeks.
Brad also stated that they have moved from regulatory clarity to regulatory chaos in the US. He cited that this is one reason for why regulation by enforcement is such a bad policy.
About delisting, Brad clarified stating that delisting and halting are two different things and that most of them are halting trading. He pointed to how there are 8 different government agencies where each of them have their own views of cryptocurrencies. And, also stated that US market participants are facing conflicting policies. And that it is natural for some of them to act conservatively.
Brad reinstated that they have built a product which is the FIRST of its kind and that integrating new infra will come with costs. The ODL with XRP is focused on solving real problems with cost, speed, and settlement and that it is proven to a tune of billions of dollars.
Brad stated that they are not going to give up on this fight and that they are on the right side of facts and history looking forward to their day in court.